A Peek Into The Markets: US Stock Futures Rise Ahead Of Economic Reports

Pre-open movers

U.S. stock futures traded higher in early pre-market trade. The Challenger job-cut report for June will be released at 7:30 a.m. ET, while the ADP national employment report for June is schedule for release at 8:15 a.m. ET. Data on initial jobless claims for the latest week and international trade for May will be released at 8:30 a.m. ET. US Services Purchasing Managers' Index for June will be released at 9:45 a.m. ET. Data on factory orders for May and the ISM's non-manufacturing index for June will be released at 10:00 a.m. ET.

Futures for the Dow Jones Industrial Average gained 58 points to 26,855, while the Standard & Poor’s 500 index futures rose 7.4 points to 2,987.00. Futures for the Nasdaq 100 index climbed 29 points to 7,867.25.

Oil prices traded higher as Brent crude futures rose 1.1% to trade at $63.11 per barrel, while US WTI crude futures rose 0.9% to trade at $56.76 a barrel. The Energy Information Administration’s weekly report on petroleum inventories in the U.S. is schedule for release at 10:30 a.m. ET, while the EIA’s weekly report on natural gas stocks in underground storage will be released at 12:00 p.m. ET.

A Peek Into Global Markets

European markets were higher today, with the Spanish Ibex Index rising 1%, STOXX Europe 600 Index climbing 0.8% and German DAX 30 index gaining 0.8%. The UK's FTSE index was trading higher by 0.8%, while French CAC 40 Index rose 0.7%.

In Asian markets, Japan’s Nikkei Stock Average fell 0.53%, Hong Kong’s Hang Seng Index slipped 0.07%, China’s Shanghai Composite Index fell 0.94% and India’s BSE Sensex rose 0.06%.

Broker Recommendation

Analysts at JP Morgan downgraded Inogen Inc INGN from Neutral to Underweight and announced a $72 price target.

Inogen shares fell 2.2 percent to close at $65.26 on Tuesday.

Breaking News

• Tesla Inc TSLA released its Q2 vehicle production and delivery numbers. The electric-car company delivered 95,200 vehicles in the second quarter, better than analysts expected. The company said it's entering the third quarter with an increase in order backlog.
• Synthomer Plc announced plans to buy OMNOVA Solutions Inc. OMN for an enterprise value of $824 million. Omnova’s profit for the second quarter dropped over 33% to $5.6 million. Net sales slipped to $205.7 million for the quarter, from $206.3 million in the year-ago quarter.
• Symantec Corporation SYMC shares climbed 19% in pre-market trading following reports that Broadcom Inc AVGO is in advanced talks to buy the company.
• USANA Health Sciences, Inc. USNA lowered its guidance for FY19. The company also reported weak preliminary results for the second quarter.